http://www.legislation.gov.uk/ukpga/2012/21/section/9/2017-06-27Financial Services Act 2012An Act to amend the Bank of England Act 1998, the Financial Services and Markets Act 2000 and the Banking Act 2009; to make other provision about financial services and markets; to make provision about the exercise of certain statutory functions relating to building societies, friendly societies and other mutual societies; to amend section 785 of the Companies Act 2006; to make provision enabling the Director of Savings to provide services to other public bodies; and for connected purposes.texttext/xmlenStatute Law Database2025-01-20Expert Participation2017-06-27 PART 2 Amendments of Financial Services and Markets Act 2000<Emphasis>Regulated activities</Emphasis>Designation of activities requiring prudential regulation by PRA9After section 22 of FSMA 2000 insert—Designation of activities requiring prudential regulation by PRA22A1The Treasury may by order specify the regulated activities that are “PRA-regulated activities” for the purposes of this Act.2An order under subsection (1) may—aprovide for exceptions;bconfer powers on the Treasury or either regulator;cauthorise the making of rules or other instruments by either regulator for purposes of, or connected with, any relevant provision;dmake provision in respect of any information or document which in the opinion of the Treasury or either regulator is relevant for purposes of, or connected with, any relevant provision;emake such consequential, transitional, or supplemental provision as the Treasury consider appropriate for purposes of, or connected with, any relevant provision.3Provision made as a result of subsection (2)(e) may amend any primary or subordinate legislation, including any provision of, or made under, this Act.4“Relevant provision” means this section or any provision made under this section.Parliamentary control in relation to certain orders under section 22A22B1This section applies to the first order made under section 22A(1).2This section also applies to any subsequent order made under section 22A(1) which—acontains a statement by the Treasury that, in their opinion, the effect (or one of the effects) of the proposed order would be—ithat an activity would become a PRA-regulated activity, oriithat a PRA-regulated activity would become a regulated activity that is not a PRA-regulated activity, orbamends primary legislation.3No order to which this section applies may be made unless—aa draft of the order has been laid before Parliament and approved by a resolution of each House, orbsubsection (5) applies.4Subsection (5) applies if an order to which this section applies contains a statement that the Treasury are of the opinion that, by reason of urgency, it is necessary to make the order without a draft being so laid and approved.5Where this subsection applies the order—amust be laid before Parliament after being made, andbceases to have effect at the end of the relevant period unless before the end of that period the order is approved by a resolution of each House of Parliament (but without that affecting anything done under the order or the power to make a new order).6The “relevant period” is a period of 28 days beginning with the day on which the order is made.7In calculating the relevant period no account is to be taken of any time during which Parliament is dissolved or prorogued or during which both Houses are adjourned for more than 4 days.S. 9 in force at 24.1.2013 by S.I. 2013/113, art. 2(1)(a), Sch. Pt. 1